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Articles Tagged with 'mortgage'

CU Embraces 'Make Sense' Approach to Lending

June 23, 2010

When Lyle Wermund determines whether to modify a mortgage, he asks one key question: Does the loan make sense?

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First-Quarter Loan Modifications, Refinancings Rise Significantly

June 23, 2010

Loan modifications and refinancings by Fannie Mae and Freddie Mac increased significantly during the first quarter as the volume of permanent modifications under the Federal Housing Finance Agency’s Home Affordable Modification Program tripled, and refinancings grew steadily.

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FBI Mortgage Fraud Takedown Nets 500 Arrests

June 25, 2010

“Operation Stolen Dreams” has led to 485 arrests, 330 convictions, and the recovery of $11 million.

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Five More Mortgage Fraud Schemes

August 24, 2010
The Federal Financial Institutions Examination Council warns financial institutions to be on the watch for these common mortgage schemes. READ MORE

Attorney Charged in Property Mortgage Scam

September 23, 2010
Lenders were led to believe they were lending to residential purchasers who had made substantial down payments. READ MORE

FTC Proposes Rule to Ban Deceptive Mortgage Ads

September 28, 2010
The agency's enforcement program has included many cases against mortgage lenders, brokers, and others for allegedly deceptive mortgage advertising. READ MORE

Consumer Spending Falls 2.8% in 2009

October 11, 2010
Mortgage interest payments and charges fell from $3,890 in 2007 to $3,594 in 2009, evidence of the higher than normal mortgage default rate, falling house prices, lower rates of homeownership, and declining mortgage interest rates over the period. READ MORE

Mortgage Lending is Smooth Sailing for Shipbuilders CU

October 12, 2010
A strategic partnership helps the CU adapt to market changes, offer a competitive set of mortgage products, and differentiate itself through exceptional member service. READ MORE

Three-M Laws: Tolls On the Road to Foreclosure

November 01, 2010
New state statutes likely will lengthen the foreclosure process. READ MORE

Rule Requires Mortgage Payment Summary

November 19, 2010
Rule requires disclosures on how mortgage payments change over time. READ MORE
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Credit Union Magazine

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May 2013

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Recent Discussion

In remembering Warren, the first thing I think of was his smile. He was a gentle, caring man who always thought of others first. I was honored to be a part of the MiOpportinidad project with Affinity Credit Union, Warren and Miriam. His hard work and dedication to that project was inspirational. Warren so deserves this award.

The author really understands the credit union philosophy and I really enjoyed the analogy of his bathroom remodel. The only thing missing was pictures of the finished bathroom! :)

Thank you Phillip for showing the differences between a Big Bank that is only looking to sell you products and a Credit Union that actually looks out for its members needs. Great article!

I love and give a standing ovation to Ron Kase and to other caring people just as much as those who passed away on 2012 like Warren Morrow at Des Moines Iowa. He worked hard for those who are under-served an under-represented, but wasn't mentioned in your magazine. It may be beneficial for the entire world to know about his accomplishments no for his benefit, obviously, but to increase the number of positive and caring people and to add members the CU. Just ask Coopera Consulting at Des Moines Iowa about Warren Morrow's legacy.

That’s right Lisa. The servicing rule would not require a credit union to create its own policies and procedures if all aspects of the servicing are delegated to a sub-servicer. However, remember that the credit union will have to conduct due diligence on the sub-servicer to make sure it is following the minimum requirements for policies and procedures. Unfortunately, even those credit unions that use a third party servicer will need to have a working knowledge of the CFPB’s servicing rule.

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